(TSX: SCL.A, SCL.B)



    TORONTO, Aug. 6 /EMWNews/ - The Board of Directors today

declared a dividend of six and fifty - one hundredths cents (6.50 cents)

per Class A Subordinate Voting Share and five and ninety - one hundredths

cents (5.90 cents) per Class B Multiple Voting Share payable on the 29th

day of August 2008, to shareholders of record at the close of business on

the 15th day of August 2008.



    For Canadian resident shareholders, these dividends are designated as

"eligible dividends" for purposes of the enhanced dividend tax credit rules

contained in the Income Tax Act (Canada) and any corresponding provincial

and territorial tax legislation.



    ShawCor will be hosting a Shareholder and Analyst Conference Call and

Webcast on Thursday, August 7th, 2008 at 10:00 AM ET, which will discuss

the company's second quarter 2008 financial results.



    Please visit our website at http://www.shawcor.com for further details.